EUR/AUD 2 Day Down Streak Broken, in an Uptrend Over Past 30 Days; Price Base in Formation Over Past 14 Days

EUR/AUD Price Recap

1.63177 (USD) was the opening price of the day for EUR/AUD, resulting in yesterday being a day in which price moved down 81 pips 0.49% from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 5.84% from the day before — and down 14.29% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/AUD ended up ranking 38th for the day in terms of day-over-day price change. Here is a price chart of EUR/AUD.

EUR/AUD Technical Analysis

Notably, EUR/AUD is now close to its 20, 50, 100 and 200 day averages, located at 1.6276, 1.6193, 1.6206 and 1.6207 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 42 pips away. Volatility for EUR/AUD has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 6 out of the past 10 days.